India conducts antitrust investigation at Jindal Saw and Maharashtra Seamless, sources report.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 16 2025
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Source: Reuters
Antitrust Raids: India's antitrust inspectors conducted surprise raids at steel pipe manufacturers Jindal SAW and Maharashtra Seamless as part of an investigation into alleged bid rigging, following a complaint from the Oil and Natural Gas Corporation (ONGC).
Market Impact: The raids led to a decline in the stock prices of both companies, with Jindal SAW shares dropping by 2.6% and Maharashtra Seamless by 1.6%, while the Competition Commission of India has not publicly commented on the ongoing investigation.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
